Google and SpaceX Strike $920M Monthly Cloud Deal as Elon Musk Company Eyes IPO

Elon Musk's SpaceX has entered into a multi-year cloud services agreement with Google, valued at $920 million per month starting from October 2026. SpaceX outlined the terms in a regulatory filing, under which it will provide Google with approximately 110,000 Nvidia GPUs, CPUs, memory, and associated components. Payments will begin at a reduced rate during a ramp-up period through September before reaching the full monthly fee from October until June 2029. If the contract runs its full course, SpaceX stands to collect roughly $30 billion. A Google representative described the deal as a result of unexpected demand for its recently launched AI products. It follows a similar deal with Anthropic, which agreed to pay SpaceX $1.25 billion per month through 2029 for compute from its Colossus 1 data center near Memphis, Tennessee. If SpaceX fails to deliver the committed GPUs by September 30, Google may terminate the contract or accept fewer GPUs at a reduced fee.

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